St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-05-07
On the Chicago Board of Trade Yester-
day the Wheat Market Developed
Bullish Tendencies.
Despite This Apparent Temper, However,
Prices Fluctuated Somewhat Wildly
at Different Times.
Several Large Anti-Bear Houses INDULGE
in Deals Involving Millions Of
Bushels OF Grain.
The Transactions in the Financial Cir
Giles Of Wall Street.-The General
Markets in Review.


tiers were interesting. The sensational fea-
ture OF the morning was the purchase by
Irwin, Green Il Co. of 100000 bushels of
George {. Walker Il Co. in one lot. On this
the June option jumped to seize. There
seemed 10 be no give at all. On this sale it
was at once sUrmised that the two clioues
Uhe California and Cincinnati Cleveland
crowd had either joined forces or else the
bigger had absorbed the smaller The euor
nous purchase by Irwin, Green & Co from
Walker X co. was naturally the topic dis
cussed on the floor TO the exclusion of every
thing else II has been all along surmiscd
that the Walker wheat was not in the hold
ings Of the clique proper. 1t was owned, it
is believed, by coterie of Galveston and
New York people. There has, it is said,
been been Fe a%d waE negotiations for the
IDENTITY ordered him TO sell at sec.
There must have been some Encouragement
for the transaction, otherwise the selling out
Of 50 much wheat in two huge lois would
have broken the market. There was evil
IDENTITY to he some concert or Irwin, Green q
Co. would not have been precisely where
they were NJ the precise moment that Keene,
of Walker 4 Co., offered l 900 600 bushels
nj S6c and 60o,ooo bushels al S6lsc.
THE CINCINNATI CROWD
(by which is menntthe clique whose orders
come from Cincinnati) now control all the
big blocks of wheat held in this market. 1t
can De pISltN so4SIy pTeNlcleu lHat the Gal
weston crowd will not get that June wheat
back. II will, however, probably take hold
of July. The news from the seaboard was all
OF rs much bull character to-day as yester-
day, The clearances from the Atlantic
ports aggregated over $4,000 bushels,
exporters for spring wheat. The
cables were all favorable. ST. Louis how
ever, broke lsc about an hour after the open
ing and the market here began to stagger
little. The local scalpers had sold from the
opening in the hope of Il reaction. The early
and enormous purchases by the clique houses
had more than neutraliZed all the realizing
and short sales, but when the clique buying,
which probably aggregated about $500 600
bu of June, ceased the market eased off.
June wheat broke cent and by l o'clock
sold at s5t4c, from S6Ac. The break created
no alarm among holders and was probably
relief 10 the exporters. as bids from abroad
must have been met, which early in the day
looked entirely ont of reach. Holders of
wheat would now. be quite as confident of
their position with the manipulation all out
of il Us with il still on. No interest, proba-
bly,, WAS more anxious for a set back than
the staunchest Of bulls.
THE ROUTINE REPORT.
CHICAQpy May 6;-Phe wheat market had a
bullish temper to-day, although prices fluctu-
ated rather wildly at times June wheat
reacted to s58lc again and went up to S614c
within the first fifteen or twenty minutes
There was heavy trade by the large houses
many of whom are pronounced bulls and
necessarily buyers. Around SIC wheat held
quite steady, but the operations on both sides
were quite large. Irwin Green bought l,500-
600 hu of June of George c. Walker d Co. at
S6@S6lse.t Walker offered first a lot of
100, 900 bu. which was taken by Ware. of
Irwin Green. Walker then began running
up the offer 100. 600 bu at aOjump, until il
aggregated f,600,O 600 bu, which went in one
lump al $3.50 STE After that-tAe market
HropcpH u nn6lr nnIlnfIifffr aH
by 1few big bears, with the aid
Of some bulls who wanted an oppor-
tunity to fill up. at cheap price
and they succeeded in putting the price back
to S5lac, where it stood half an hour before
the close of the morning session. The market
then fell off TO Sol4c. Shortly after the tap
of the bell for the afternoon session the
crowd discovered that the short interest was
altogether too large, and everybody com
mcnced TO scramble for June wheat That
option went from S5l2c 10 S6lSc without
stopping, and just before the close it had
little reaction to S57sc. The clearings from
ers for 220, 900 bu were reported here to-day.
Corn was quiet and prices showed little
change. Oats were quiet and featureless.
Mess pork was marked up SOC barrel, with
little open trading. Lard ruled 507l2c
lower. Short ribs closed 2l2c lower.
- THE QUOTATIONS., =,
The leading futures ranged as follows:
Wheat4sNo. = May, S37sc, closing at $3.50;
June, SOS4c, CLOSING at -copScl tJuly, soc,
closing at S5Isc: August, sac, closing at
Sac Corn-No. May, 3S4c, closing at
3Sls@ 3Sl4c; June, 39s4c closing at 39Ssc;
July, 1850, closing at 41A@41sSc; August,
42Ssc, closing at 42ssc. Oats-No. May,
26%c, closing at 26ssc; June, 2SAc, closing
at 27s4277sc; July, 2S5sc, closing. at
2Sl2c. Mess pork = per Dbl. May,
SOB, closing at $3.50 Lard per
100 bbls., May, $500, closing at
S6.S7l2 June, So. Ole, closing at So, 95 July,
$7.o7l3, closing at s.. o2l2; August s.; Is
May, $3.50. closing at $3.50; June, S7.65,
closing at $7.57I2: July, $40, closing at
S7C5; August, $3.50, closing at S7.77l2.
Cash quotations were as follows: Flour
steady and unchanged. Wheat-No.2 spring,
$3.50; No. 3 spring nominal; No. 2 red,
S37sc. Corn-No. Q, 3Sls613SAc. Oats-No.
2, 26Ssc. Rye-No. ., ste. Barley-No. 2,
SIC. Flax Seed-NO. l, $l.0S Prime timo-
thy seed, Sl.66. Mess pork, per Dbl, $500
$3.50. Lard, per 100 lbs, S6.S5@6. S7I2.
Short rib sides, loose, $7.50Q7.55; dry sailed
shoulders, boxed, $4,000; short clear sides,
boxed, S7.90@7.95. Whisky-Distillers' fin
ished goods, per gal, Sl.1O. Sugar-Cut
loaf, 6l4@6ssc; granulated, &c. standard A,
54sc. Receipts-Flour, 5000 bbls; wheat,
$4,000 bu: corn, $4,000 bu; oats, 63, 600 bu;
rye, 1000 bu; barley, "a 600 bu. Ship
ments-Flour, 5000 bbls; wheat, 10000
bu; corn, 404 900 bu: oats 107, 900 bu; rye,
1000 bu; barley, 5000. On the produce
exchange to-day the butter market was
steady; creamery, 1S6l22l2c; dairy, 16027c;